US Economy Grew At A Record 33% Rate In The Third Quarter

CNBC: U.S. GDP booms at 33.1% rate in Q3, better than expected

Coming off the worst quarter in history, the U.S. economy grew at its fastest pace ever in the third quarter as a nation battered by an unprecedented pandemic started to put itself back together.

Third-quarter gross domestic product, a measure of the total goods and services produced in the July-to-September period, expanded at a 33.1% annualized pace, the Commerce Department reported Thursday in its initial estimate for the period.

That came after a 31.4% plunge in the second quarter and was better than the 32% estimate from economists surveyed by Dow Jones. The previous post-World War II record was the 16.7% burst in the first quarter of 1950.

Read more ....

WNU Editor: What is shocking about these numbers is that a number of US states (i.e. New York, California, Illinois, etc.) are still under some form of lockdown.

More News On The US Economy Growing At A Record 33% Rate In The Third Quarter

U.S. economy notches record growth in third quarter -- Reuters

US economy grew at 33% rate in Q3 but recovery is incomplete -- AP

U.S. Economy Expands at Record 33.1% Pace After Covid Plunge -- Bloomberg

US GDP Soars By A Record 33.1% In Q3, Smashing Expectations -- Zero Hedge

Graphic: Best of times, or the worst? A voter's guide to U.S. GDP -- Reuters